welcome to the kaiser report imax kaiser. so. what do you. well success for david cameron's trade mission to china this way. they downing street announced the u.k. has won the right to export pig semen to china this is going to be a long one in a deal worth forty five million pounds per year. little piggies well rescue britain's economy for share and exchange it appears china will win the rights to more of the ukase real income producing assets such as the h s two high speed rail

link between london and those places up north that nobody ever goes not only will china invest in the new rail network but may even build it they did a good job in america building a railroad. cameron bragged that the u.k. infrastructure is worth investing in not just by the government meanwhile back in the u.k. space frightening close talking continues police told members of the public to ignore people just as clowns if they meet them in the street alas despite the public warning the media insisted on reporting on george osborne's autumn statement oh and. max george osborne perhaps the most terrifying clown of all actually take a look at this image here this is a clown spotted in norfolk i'm not sure if it was george osborne but he looks quite similar with his autumn statement no one thing that was reporting on the state of the u.k. economy i think was the u.k.

guilt because in the march budget ten year gilts were trading at one point eight percent with the autumn statement is now at two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers' overall pay has not fallen insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped by five thousand pounds over the past five years so that's a drop of six point four percent according to the office of national statistics george osborne is saying those are a lie he's going to come out with his own report to show that in fact those numbers are deceptive yeah george osborne is thought so much a clown as he is one of these french minds and but he speaks which is kind of interesting for a mind he's more of a friend of mine it's a path to mine show and he believes that these numbers do not tell the truth these

are all remote greet the famous french artist who would say this. is a post painting of a pipe this is not a pipe of war. so you. blow as usual school in the mean frozen treacle you. see not everything is the real core in charge over people and suffering they're not suffering in this country they're really expressing their patriotic fervor for the coalition government they're not starving they're not freezing to death they're merely expressing their patriotism well it does look a bit poor scene you might say so you could be. just as you know just look. you know he's a big stack to go to be honest about him so as his brother in arms david cameron david cameron is. my impression david cameron more of these approved talks dinners you know he's like. oh i didn't like

a certain word the poor brute would it is good true true. mafiosa no good because they well let's look at those who are so poor a scene and this is the people who can't even afford to eat this is looking at the true state of the british economy now george osborne as we said he likes to deny the statistics deny the actual facts but tweet from the independent reads experts said government may be covering up how austerity and welfare cuts are adding to food crisis hunger in britain has reached the level of a quote public health emergency and the government may be covering up the extent to which all stared he and welfare cuts are adding to the problem leading experts have said this is from the british medical journal and they spoke to a group of doctors senior academics and two leading universities all the way to

calculate g.d.p. in this country is how many people are killing so it's really debt per death or a death so they'll be fuel poverty this winter meaning people will die like they did last winter and that will add to the g.d.p. so i was more talk about g.d.p. growth. when dead bodies are the furthest we love bodies or helps our g.d.p. growth. so the report by these doctors and university says that a surge in the number of people requiring a merge in seafood aid a decrease in the amount of calories consumed by british families and a doubling of the number of malnutrition cases seen at english hospitals represent all the signs of a public health emergency that could go on recognize until it is too late to take preventative action they write again one of the things that they say is most important is the rise of malnutrition in english hospitals they're seeing so there's five thousand five hundred cases in the last year from about three thousand

at the beginning of the crisis so once you deprive a child of the nutrients they require to develop their brain and their capacity well now you're just writing off the future generation they're not malnourished. they're expressing their patriotic fervor. well perhaps as george osborne will say because they did commission report the government looked into it they're delaying it they've had their results for several months they're saying they're delaying it because they they're not quite happy with some of the facts revealed in their own report so they want to make sure that they were rigorous and diligent in finding the right information it's the soviet union played out here in britain so i remember this famously would say oh we've got all these directors rolling off the assembly line. making ten times more kilos and you know there would be this huge propaganda organ to misinform the public so here's george osborne doing his best

stalin impression and saying oh yes there's the motel nutrition is good for the nation and there is a reduction in living standards asperity is fantastic and we're going to beat whoever it is we're fighting against we're not sure but the chinese give us a lot of money and boris johnson thinks that the reason poor people are poor is guys are stupid and we're there we're down with that because we're funky we're down to number eleven number ten downing street come and see us we've got a show every two four hours worth of camera for it compared to mine. so as i said that the future generation is being deprived of nutrients but they're also being deprived of the nutrients of savings this is in the next headline max biggest drop in savings for forty years bank of england figures reveal the bank figures show twenty three billion pounds taken out of long term savings in the past twelve months equivalent to nine hundred pounds for every household now they spoke to ross altman a former downing street advisor and she told the telegraph quote the figures are

desperately worrying people are stopping saving for the long term because all the policies of the last few years mean you would be a mug to save well other savings are examined in this country i mean how do they collect all that they say meant to export. to china anyway the most and most it's almost born is collecting the scene with himself i mean he's down at the farm you know pleasuring pigs all day long should we be over there doing something more useful than pig pleasuring so we can export the semen to china you would think this guy had a real job maybe he likes the job maybe that's why he took the job it is all being collected here they're not sending any live pigs to china now interestingly apparently the pigs here have better genetic material and it goes with that whole eugenics concept that you brought up with boris johnson saying that the reason why people are poor or because they have low i.q. which is the classic eugenicist idea that came out back in the thirty's and forty's well you know it's

a combination of two things here first of all the pigs here you know the other cheap date so they're able to collect seem a lot cheaper than they would a silly high priced big stone of the code does or france for example and as you point out it's an example of what boris johnson spoke about the reason the poor people in the u.k. are poor because they're stupid that is an example of jennings so here you've got the pig eugenics in a pig same in mixed with boris johnson the pig who sits behind me in the going and looking building who's talking about eugenics in the country and saying look we need to implement eugenics to weed out the stupid people that's what boris johnson saying well to weed out the stupid people well it comes around during times of great depression where the great depression back then they were in a great depression and the people who caused the great depression tend to be the fraudsters the banks toure's and they tend to be hoarding the wealth at the top and they don't like to look at themselves so they try to think of some other reason well those people are stupid because we've deprived them of food while they were growing and nutrients while they are growing and we've deprived them of savings and

now we're going to retire at seventy years old so you know those people are stupid for even listening to us but finally we're going to go to where this is all leading as boomers retire well all be detroit soon so detroit is allowed to move forward with. there bankruptcy and on the chopping block of course is all those obligations to the former workers and present workers analysts have worn for years about the massive underfunding of public pensions the detroit bankruptcy will task whether governments can cut back on promises made years even decades earlier make no mistake other cities are watching the proceedings i'm talking about you philadelphia oh this is of course a more scapegoating of the pour so the workers work there live for their pension account their cash but you can be used to leverage guns of synthetic obligations on wall street so that money has to be stolen clearly whether you're in the u.k.

or detroit whether you birmingham manchester or betrayed you know bridges are up for grabs on the show yesterday on wall street led by the show's stars a member dead a member a love of boris johnson they want to take your money and they want to turn it into a go on the floor in front of the writ of spinning the globe given that we're doing nothing. so and there's a very much a lot of mainstream media propaganda against the workers here that they are somehow they're the ones i drove the city into the ground not any of the derivatives and the interest rate swaps and all the crazy bank dealings that happened over the last few years or the collapse of the auto industry and a lot to do with tax policy and shipping jobs to china where we're now only sending them big seamen in return well it goes to the whole nation and therefore the world after this detroit's pension woes however highlight a bigger challenge the u.s. hasn't saved enough to support the coming retirement of millions of baby boomers in a sense we are all detroit hers now george osborne has said that here in the u.k.

anybody fifty and over is safe we're not going to cut anything from your pensions and you can retire at sixty five and stay healthy and enjoy some years of retirement it's just all those suckers under fifty we're going to make them work fine. you know make them take out huge amounts of debt so finance a university and they're going to work until they're seventy will probably raise it to seventy five or eighty if they happen to live that long what are. we going to go we're going to go to town to move on. the stage over the second half a whole lot more. washington so-called peace process to resolve the israel palestine conflict has produced little if any results in fact the palestinians are experiencing excel in way to the legal and seizures is it time to accept

a one state solution and or look to global institutions like the un to replace the current negotiating framework. and. the league. what defines a country's success. faceless figures of economic growth. for a factual standard of living.

torch is on its epic journey to such. one hundred twenty three days. through two hundred cities of russia. relayed by the. thousand people or sixty five thousand killings. in a record setting trip by land air sea space. torch relay. on r t r g dot com.

welcome back to their car is the report i am max kaiser timed out to turn to professor steve author of deep bunking economics steve king welcome back the great to be him i love your backdrop on the world went to war of course deep bunking economics all over the world what about george osborne let's spend some time debugging george's board he's not an economist but he still managed to run the u.k. economy into the ground the office of national statistics says middle income household income in the u.k. is down five thousand pounds in two thousand and eight. politicians believe what they think of the experts because they want to have as little numbers they can quote and say in front of that say that it's all going to be wonderful in the future and they end up being suckers for an economic discipline that has no idea of how the economy operates didn't see this crosses coming in their advice is actually made it was on the trouble is all as well as following that advice so i

was driven the economy down and the only way i can see up is by causing another housing bubble which is where you know what i call i will help to they call it help to buy i call it help to sell has turned up so you've got another property bubble another asset speculation revival going on here that's about as far as they've gotten us running out of steam as we can all see right now on the real economy is continuing to tank we need to get rid of policy what i call the politico financial complex is not the military industrial complex screwed up capitalism which was in households forty years ago it's the financial politico complex and that's where most of our problems come from so they're making a bad situation worse so the action in on the ground are suffering from fuel poverty they're freezing to death they are malnourished in this country rates of malnourishment are now. decade high levels but those numbers never seem to factor into the chancellor's equation in terms of how the economy is doing it's almost as if they're scapegoating the poor as my by. johnson the mayor here in

london as recently said that the reason the poor are poor is because they're stupid as sounds like the genic so most was born of these guys are they back to the. i mean they do do the whole thing as we need it when you look at the research behind eugenics which goes back to several books fifty sixty seventy years ago that was a slight because economic research actually did the whole thing you know it's like the revenge of the upper class to have an average i.q. of one hundred twenty one hundred for the middle class and id for the working class to me this was like a twin study to support it we then found out he made up about seventy of his hundred twins it was all fraud like almost everything else and the reality is social structure is locked down with people at the bottom of the system and make an incredible struggle to get up and you get the upper class and want to surly all that broad get their you know a trip from paper to running westminster it isn't brains this is. really speaking poor the poor have different ways to break through the artificial ceiling in

america you know you have sports as a way you know basketball for example has been a way for black americans to break through the oppression of racism in financial degradation in canada have spent a lot of time can i study well i saki in cat and comedy to some degree here in the u.k. of rock n roll the me the was on the border to a poor boy do but to play in a rock roll band so that those but now you're from australia i'm just curious if anything aside from growing fosters beer is there anything over there though she wears much of bubble economy of this part of the planet is so the main way to buy housing real estate what should go up and have debt driving it behind there and think you're a genius so this financialization of the global economy is something that guys like paul krugman of the new york times think is great because there's no such thing as debt that doesn't matter any president is there percent and there's no consequence is ever in your thoughts that's the deadly thing i mean that particular pipe where he went across for the secular stagnation argument from. from the irish summit as

he actually said someone is you don't build up bad consequences for the future now the reality is when you take a look at what draws us that process on it's rausing levels of debt and you've got to pay the debt back back to banks not towards other individuals and that also means the bubble has to has to fall i guess you know other possible fall off the low interest rates we have an amazing degree of larceny embezzlement malfeasance here in the u.k. this past few weeks has been the star turn of royal bank of scotland they've recently been caught targeting individuals and companies for debt. eugenics i mean areas here they're almost they've got almost the whole program in place but isn't that rather a negative consequence of cheap money is that reward criminality well because it's a cheap money i mean you would have to drive writes down because i saw the debt bubble coming and so they're going to be conned cope with that level of debt servicing you've got to reduce it at that risen but the double consequence of that

is these are the people who are in the finance sector over here in the politicians with them they expect to get you know six to eight percent returns perenna above the right of inflation and if the economy's growing up less than one percent they've got to do that in a parasitic why and one way they can do it is by the sort of stuff you're talking about the role bank of scotland targeting businesses sending them and getting their assets selling those for profit coming out ahead it's piracy parasitic behavior the financial sector on the real economy and it was bad enough when the bubble is drawing up now the bubbles run out of the stream because of the sheer level of debt that's been accumulated it truly can be parasitic behavior it sounds like communism the old days where we had if we had to generate a certain number of tractors comrade you know the poor must be fed and that we are with must be higher mel and as a result they introduced pogroms that were slaughtered people to meet their targets or is that distinctly milder bases there in the u.k. to meet certain. educational standards they have targets for testing and things

like this when. did you caving or making the population dumb and then boris johnson come along and say well you're dumb that's why you're poor and then they'll take more money but this targeting of economic numbers and then making their assumptions fit the target yeah that nothing has no bearing on the real economy that's the thing i'm and i'm. a fan of the innovative side of capitalism somebody said that innovative to cross over the cardinals you got to balance it with the state sector to some degree but the thing that i find infuriating is what i call the bureaucracy . and these people. are crazy and then you get to the point soget some of the objectives they set and so on and they end up startling the innovative side of capitalism while not giving you the sort of balancing you want the site to do at the same time and also the bureaucracies running universities these days and degrading innovative research with a con handle people that not fit inside their boxes you see it with cha getting an

education and you know and it really does feel like you've actually got you know chairman mao in control of stalin supposedly being champions of capitalism now let's talk about this idea you just mentioned a mixed economy or a balanced economy or having the state involved economically at some times or some sectors and having private markets and private enterprise involved really in a more balanced but it seems that this is a really difficult balance to strike because of the ideological forces on both sides some point statists on the megaphone they own the media and they broadcast their message of state control in the times it becomes in the us the times is free markets rule above and beyond that and arco capitalists if they have that group of ideological stalwarts how is that an example that you can him of a balanced economy either innes in history. or in the current global economy

or is it is it about all of this just to have a utopian vision that we really can ever expect ever happen yeah i mean it is something that i think you can save america in the fifty's and sixty's and that sort of balance but a lot of it was paranoid about the russians and that paranoia about the russians meant two things first of all the huge expenditure they did which then gave you know tremendous boost to innovation in american capitalism as well. but you also had the there and they couldn't let the workers' wages fall too low because of workers' wages were too low russia would stop look attractive with the audiologists are very instant voice the game so you're saying that because during the thirty's of course the united states a lot of people had to russia yeah there was a communism was was a factor in the u.s. politics joseph mccarthy and other people politically rise up and there was a whole effort to deal with communism you know on american soil but the wages at

that time in the promise of socialism and communism was attractive to force people to other countries so they had america the wages in here the u.k. are virtually at a complete standstill and grown at all really for decades and purchasing power is collapsing they get no return on savings but there's no country to go to because every single country the world is guided by some such a bank so there are all the countries of the world have now adopted this psycho paul krugman as print money to die debt is great wages are terrible and wouldn't make sense. it is it how do you get around the blunt force trauma of a pro statist argument that in fact. minimum wage and wages need to go up well i mean it was going to come on defense he was saying it once wages to rosin america as well and i think what we capitalised in the fifty's and sixty's was

fortas capitalism with what actually bumped up the wages he paid to his work was so that they could afford to buy the cars they're producing on the production line and you had this belief that both profits and why you just had to have it's on and that's healthy capitalism but we're going to crush this predatory capitalism with firms try to relocate their production to cheap wages and the try to sell back to high wage countries does not work it works the individual fun but it brings down the wife's levels over there certainly is this now we're in a very simple graphic here we got a couple minutes left here is the central bank and the money is being printed and it flows off the central bank like the water coming from the source of the nile and it can go in one of two places or both places it can go toward banks to speculate it can go toward workers in the form of wages these days due to financial engineering that seems to have been an irrigation project where only goes to speculators who get the cheap money and it doesn't go to workers so my question is

this. the solution is either pay allow wages to rise in some commensurate ratio to the money supply that's going to bankers or b you must raise interest rates to get rid of the zombie banks but we have instead the worst possible situation where the zombie banks get the cheap money and workers get nothing and that the worst of all possible worlds worst of all possible worlds i mean if there was the way the way the reserve is set up its money goes to the banks because of the reserves they don't give the money to the public but there was a section and i mean wall as such and thirteen point three of the federal reserve act that allowed them to give money to the workers directly which would be part of what i call a modern jubilate structure and that was abolished by the banks with the. what's the new act called not the with one the sort of brought back parts of last eagle that's how it was portrayed but a specific part of the legislation got rid of the capacity of the fed reserve to actually give the money to the public and the banks lobbied for that so it wasn't

one of these recent like the. old franc that was probably hidden in the tub chicks so that they got rid of that particular day of the laws of a section one section thirteen point three they gave the they got rid of it they gave who the right to what the gave that they the federal reserve the right with a majority vote to direct the money to the public rather than to the bank they had that right they had that right and they abolished it under dog frank even though the now obviously and some other words are going to go. they got rid of they make a scene speculating illegal yanar a commodity futures modernization act yeah here they balazs another function of the fed a clue to let them do something good but i was talking about what if i just know this is quite revealing it's still the political financial complex and i said we've got to get rid of them all so what are you doing here in the u.k. anyway talking a whole bunch of rebel students rebels in oxford rebels in manchester and meeting up with terry jones and talking about the story madea i thought he had a great turn in boston producing a documentary he won their union concert oh it was over the radio not to icon stand

spam well fair enough all right steve king we'll have to leave it there thanks so much for being on the kaiser report the lot of max and that's going to do it for this edition of the kaiser report with me max kaiser and stacey however i'd like to thank our guests debt deflation dot com if you'd like to get in touch tweet us a kaiser report by oh. quite often countries rich in natural resources are the poorest africans the colony is a colony of the big corporations it's a colony of someone's home leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts whole country is drowning under the amount of debt that they should

and so every year they would borrow money. and they would use that same a bit of money to pay back oh that's. all that money really. the wages of debt. we are the problem we in the west of the problem especially the united states government so it really is quite ridiculous that we get manipulated into saying oh we have to take care of this problem over there the problem is it all. and we know that. they look like. people suffering the consequences. how much more poison. ground. behind this there is what we call the

bank on which there was a deposit of plutonium left by security test which caused. despite previous cleaning efforts there remains a deposit of a little less than two kilos of plutonium stuck in the rock the coral reef about ten metres down. a never ending legacy. first street. and i think. for. the.

general mania clashes erupt in a village between police and locals who don't want american energy giant chevron to drill for shale gas in their area plus. a delegation of e.u. officials descend on kiev once again to reiterate their support for government rallies the public gathering showed no sign of dissipating despite being told i've got four days now to stop disrupting the government. the mourning for nelson mandela continues worldwide we look at the concerns that traces of south africa's tainted past may return this time for the country's minorities.